The case pertains to IA (IBC) 465/2023 filed in CP (IB) No. 353/7/HDB/2020, concerning the corporate insolvency resolution process (CIRP) of M/s. GVS Infra and Industries Private Limited. The CIRP was initiated vide order dated 01.10.2021, and a moratorium was declared. Mr. CA S.Kasthuri Rangan was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor due to a lack of active interest in the market and no scope for business revival. An application was filed seeking liquidation, which was allowed vide order dated 21.09.2022, and the applicant was appointed as the Liquidator. The Liquidator issued a public announcement and received claims only from financial creditors who had
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. GVS Infra and Industries Private Limited on 01.10.2021. Mr. CA S.Kasthuri Rangan was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 28.03.2022 due to a lack of active interest in the market and no scope for business revival. An application was filed to liquidate the Corporate Debtor, which was allowed on 21.09.2022, and the applicant was appointed as the Liquidator. The Liquidator issued a public announcement on 16.10.2022 and received claims only from financial creditors who had submitted claims during the CIRP. There were no immovable assets mortgaged to the Financial Creditor, and the Corporate Debtor
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Corporate Insolvency Resolution Process…
Hon'ble NCLT d…
The case pertains to IA (IBC) 465/2023 filed in CP (IB) No. 353/7/HDB/2020, concerning the corporate insolvency resolution process (CIRP) of M/s. GVS Infra and Industries Private Limited. The CIRP was initiated vide order dated 01.10.2021, and a moratorium was declared. Mr. CA S.Kasthuri Rangan was appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor due to a lack of active interest in the market and no scope for business revival. An application was filed seeking liquidation, which was allowed vide order dated 21.09.2022, and the applicant was appointed as the Liquidator. The Liquidator issued a public announcement and received claims only from financial creditors who had
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. GVS Infra and Industries Private Limited on 01.10.2021. Mr. CA S.Kasthuri Rangan was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 28.03.2022 due to a lack of active interest in the market and no scope for business revival. An application was filed to liquidate the Corporate Debtor, which was allowed on 21.09.2022, and the applicant was appointed as the Liquidator. The Liquidator issued a public announcement on 16.10.2022 and received claims only from financial creditors who had submitted claims during the CIRP. There were no immovable assets mortgaged to the Financial Creditor, and the Corporate Debtor
…Corporate Insolvency Resolution Process…
Hon'ble NCLT d…